Domestic intermodal spot rates are:
- Down 1.1% from last week.
- Up 8.6% from 90 days ago.
- Up 38.9% from prior year.
Domestic intermodal spot rates decreased for the second consecutive week.
Outbound LA lanes were the biggest contributors to the decline, while Chicago outbound prices continued their rise holding back what could have been a much larger decline for the week.
Truckload spot rates continue to hold steady around $2.15 a mile, as reported by DAT. Historically any price above $2.05 a mile has been a good indicator of modal conversion opportunities increasing.
Diesel Fuel Comments:
The EIA reported average diesel fuel price of $3.042 per gallon this week, which is a $0.032 increase from the prior week and second consecutive week the diesel price has increase.
The price per gallon is up $0.486 or 19.0% higher from the same period last year.
Oil remains above $60 a barrel with WTI and Brent closing today at $61.99 and $67.08, respectively.
The most recent projection by the EIA for diesel and oil prices reported prices will average $2.90 in calendar year 2018. The expectation is supply will outpace demand, particularly in the back half of 2018.
The full spreadsheet of the historical weekly price moves of diesel full can be found at https://www.eia.gov/petroleum/gasdiesel/.
Graphs listed below include:
- 53' Domestic Intermodal Price Index & Diesel Fuel Prices
- Price Changes in 53' Domestic Intermodal Pricing & Diesel - 1/1/2013 Baseline
- Rolling 52 Year-over-Year Comparison - 53' Domestic Intermodal and Diesel Fuel Prices
- Rolling 52 Year-over-Year % Change - 53' Domestic Intermodal and Diesel Fuel Prices
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